Scholarships & Grants are two types of financial aid available to students where students do NOT have to pay it back. The primary difference between these two is that grants are often need-based while scholarships are usually merit-based or have certain applicant requirements.
Loans are money that you borrow and have to pay back with interest. There are federal loans you can receive provided by the federal government. You will have to fill out an application through FAFSA for this. There are also private loans that may be made by a lender, such as a bank, credit union, state agency or school. Be careful with private loans!!! Make sure you do your research before accepting any private loans! |
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